7 Retail Stocks to Buy for Winning the Online Battle

If you’re looking for retail stocks to buy that are winning online, Children’s Place (NASDAQ:PLCE) ought to be at the top of your list. However, before you rush to your computer to place your buy, it’s important to understand the retailer’s e-commerce success has come at a short-term cost. On Dec. 6, it announced its third-quarter results. Among the usual numbers in its press release was a 38% increase in digital sales along with a 9.5% increase in same-store sales.That was the good news. The bad news was that its costs were higher in the quarter due to the extra expense of fulfilling online orders from its stores rather than its distribution center.“[T]he outsized growth of our digital business has caused low levels and stock-outs of e-commerce inventory, and has forced us to make brick-and-mortar inventory available to our digital customers online in order to meet their demand,” said Chief Financial Officer Michael Scarpa on its earnings conference call. “The fulfillment costs associated with ship-from-store and the fulfillment of store inventory carries a higher cost per unit than shipments made via our distribution center.”

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Canadian Customer Service Association

In addition to promoting and gaining acceptance of the Customer Service field for the distinct body of knowledge it provides in business, it is the first association to promote the practice of Customer Experience Management as a recognized professional discipline and is the professional voice of customer service practitioners in Canada.

OTHER ARTICLES
Ecommerce Merchandising

mPOS: Modern Payment Solutions for Restaurants

Article | March 18, 2024

Digital innovations continue to be a driving force in changing how people make and receive payments. Cash registers are becoming obsolete as business owners now seek to achieve greater flexibility and control. Similarly, the days of basic systems and stationary credit card leaders are long gone. POS systems for restaurants are changing, evolving, and morphing in response to the demands of restaurateurs and other hospitality business owners for features that did not exist 10 years ago. Impact of mPOS on Restaurants The emerging startup business of mobile point-of-sale (mPOS) systems enables clean features to be considered in the overall restaurant-oriented design at a reasonable cost and with a lesser amount of time and effort. With mPOS systems, restaurants can enhance and improve their operational environment. By opening the gates of traditional POS systems to external developers and the cloud, restaurant owners have ample opportunities to streamline existing processes, such as coupon redemption, and implement entirely new initiatives, like location-based marketing. The ability of the mPOS solutions to provide versatility to restaurant payment systems is one of their greatest benefits. Using a portable device equipped with POS software, waitstaff can print food orders for the kitchen, create customer bills, and accept payments from a variety of options such as QR codes, UPI, debit cards, mobile wallets, and many others. At the same time, these POS systems can facilitate communication between various restaurant departments. For instance, every order can feed information in real-time, allowing for the automatic tracking of inventory levels. In many instances, point-of-sale systems can also manage restaurant reservations. The Wave of the Future In recent years, the introduction of new technologies has enabled smart business solutions, such as mobile point of sale (mPOS), which have pushed the hospitality industry to achieve higher levels of internal expertise in core operational areas. The restaurant sector has long been a creative space that caters to consumers' and cultures' ever-changing tastes. There is now an embrace of technology that customizes the customer experience in unimaginable ways. Restaurant POS systems will play a prominent role in enabling these hospitality spaces to introduce new ways of serving food to customers, in the coming years, providing opportunities for POS solution providers to launch advanced restaurant POS systems and capitalize on them.

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POS Solutions, Ecommerce Merchandising

Ecommerce Merchandising Strategy for Peak Sales Results

Article | June 7, 2024

Optimize your ecommerce merchandising strategy with ecommerce top-tier tools and solutions. Perfectly manage and present your product data to enhance customer interaction and achieve ecommerce success. Contents 1. Merchandising in the Age of Ecommerce 2. Strategic Product Placement: The Heart of Online Merchandising 3. Visual Merchandising: Crafting Compelling Digital Narratives 4. Leveraging Data for Dynamic Merchandising 5. Featured Ecommerce Companies and Tools 5.1. Bloomreach 5.2. 1WorldSync 5.3. Algolia 5.4. Bluecore 5.5. Bridgeline 5.6. RichRelevance 5.7. Shopware 5.8. Coveo 5.9. EDITED 5.10. Akeneo 6. Summation: A Nod to Ecommerce Merchandising's Critical Impact 1. Merchandising in the Age of Ecommerce Ecommerce has seen a staggering rate of adoption and growth, reshaping consumer behavior and business strategies alike. It has transformed the world of traditional retail, making the transition from physical stores to digital platforms a critical move for businesses worldwide. The essence of ecommerce merchandising lies in creating an online environment that mirrors the tactile and visually rich experience of in-store shopping, adapting to the habits of the modern online shopper. Despite the economic downturn during the pandemic, the ecommerce sector witnessed significant expansion, becoming the primary channel for many sellers and buyers. The global ecommerce revenue saw a remarkable increase of approximately 19% during the initial phase of the pandemic in 2020, showcasing the resilience and adaptability of the digital marketplace. An effective ecommerce merchandising strategy is a blend of smart product placement, dynamic visual storytelling, and insightful data-driven decision-making. It aims to create a compelling online environment that mirrors the physical retail experience, ensuring that products not only reach their target audience, but deeply resonate with them. With 95% of purchases expected to become online by 2040, understanding the intricacies of ecommerce merchandising should be every retailer's raging priority. [Source: angroid] Prior to the pandemic, ecommerce accounted for only seven percent of grocery retail sales. However, this figure climbed to ten percent amid the pandemic, illustrating a significant shift in consumer shopping habits toward online platforms. Small and medium B2B companies worldwide also felt the positive ripple effects, with the US small business ecommerce revenue share jumping from 17% to 19% and a notable 31% overall increase in ecommerce penetration. The rapid evolution of ecommerce has made it an essential part of the global retail landscape, with continuous growth expected in the coming years. Merchandising in ecommerce focuses on leveraging digital tools and platforms to effectively reach and engage consumers, driving conversions and loyalty. It mirrors the intuitive, sensory-guided experiences of physical stores within the digital realm, fostering an environment where products not only find their audience, but also resonate with them on a profound level. Let’s delve into the multifaceted approach required to refine your ecommerce merchandising strategy, ensuring your online store not only meets, but exceeds the expectations of today's discerning consumer. 2. Strategic Product Placement: The Heart of Online Merchandising Ecommerce merchandising is the harmonious blend of strategic product placement, compelling visual storytelling, and data-driven decision-making in an online setting. Incorporating top PIM softwarecan significantly enhance this blend by centralizing, organizing, enriching, and distributing product data across multiple channels and platforms. Having said that, product placement remains at the heart of online merchandising embedding itself into the very essence of customer engagement, conversion optimization, and brand loyalty. 2.1 Harness the Power of Strategic Product Display Elevate your ecommerce platform with the precision of a gallery curator. Think of your online space as an exhibition where each product is a masterpiece, meticulously placed to capture attention and inspire action. The strategic arrangement, coupled with compelling visuals, transforms the casual browser into a committed buyer, underlining the importance of aesthetics in digital commerce. 2.2 Leverage Data-Driven Wisdom for Unmatched Precision In the realm of digital commerce, data is the compass that guides every decision. Employ data-driven insights to tailor your offerings to the nuanced preferences of your audience. This approach sharpens marketing strategies and elevates customer experiences, turning insights into actions that drive growth and customer satisfaction. 2.3 Craft Immersive Shopping Experiences Imagine crafting an online environment so engaging that it rivals the allure of physical stores. Through innovative use of technology and storytelling, create an immersive shopping journey that captivates from the first click. This digital alchemy involves weaving together vivid product narratives, seamless navigation, and personalized touchpoints that improve customer experience and resonate with your audience on a profound level. 2.4 Empower Your Brand with Visual Storytelling Visuals speak louder than words in the digital bazaar. Employ dynamic visual storytelling to showcase your products in a way that tells a story, evokes emotions, and ignites the imagination. This method highlights the uniqueness of your offerings and builds a memorable brand identity that stands out in a saturated market. 3. Visual Merchandising: Crafting Compelling Digital Narratives The visual aspect of your online store plays a critical role in capturing and maintaining the interest of potential buyers. High-quality images, engaging videos, and immersive layouts are essential for improving product discovery and enhancing their value and appeal. 3.1 Tips for Maximizing Visual Impact High-Quality Product Imagery: Use high-resolution images that accurately represent your products. Offering multiple views and zoom functionality helps customers get a better sense of the product, leading to increased confidence in their purchase decisions and making ecommerce experience more enticing to shoppers. Lifestyle Photography and Videos: Beyond mere product shots, incorporate lifestyle images and videos that show your products in use. This helps customers visualize the products in their own lives, enhancing the emotional connection and perceived value. Implementing lifestyle photography and videos bridges the gap between online shopping and the tangible feel of a physical store. Consistent Branding: Ensure that your visual content aligns with your brand identity. Consistency in style, color schemes, and messaging reinforces brand recognition and builds trust with your audience, fostering a fulfilling customer experience every time they browse product pages. 3.2 Homepage Optimization Your homepage serves as the gateway to your brand’s world. It should encapsulate your value proposition, highlight current promotions, and guide visitors towards key products or categories. Engaging content, coupled with clear CTAs, lays the foundation for a journey ripe with potential for discovery and conversion. 3.3 Product Grouping and Categorization Organize your offerings in a way that reflects the natural browsing and buying patterns of your target audience. Effective categorization and content marketing enhances discoverability and simplifies the decision-making process for customers, thereby reducing friction and bolstering sales. 3.4 Personalization and Recommendation Engines Utilize data analytics and AI-driven tools to offer personalized product recommendations. This not only enhances the user experience by making it more relevant and engaging but also increases the likelihood of upselling and cross-selling. 4. Leveraging Data for Dynamic Merchandising The ability to collect, analyze, and act on data is a powerful advantage of an effective ecommerce merchandising strategy. Ecommerce platforms are treasure troves of insights into customer preferences, behaviors, and feedback. 4. 1 Customer Behavior Analysis Monitor how visitors interact with your site. Which products are they drawn to? Where do they spend the most time? Insights from these behaviors can guide adjustments to your merchandising strategy, ensuring you’re always aligning with customer interests. 4.2 A/B Testing Regularly test different elements of your ecommerce site, from product placements to the design of CTAs. This iterative process allows refining the ecommerce merchandising approach based on concrete data, optimizing the user experience and increasing conversion rates. 4.3 Feedback Loops Encourage and analyze customer feedback. Reviews, ratings, and direct feedback can provide invaluable insights into product performance, customer satisfaction, and areas for improvement. Mastering ecommerce merchandising is a journey of continuous learning, experimentation, and adaptation. By focusing on strategic product placement, leveraging the power of visual storytelling, and harnessing data for informed decision-making, online shopping experiences can exceed customer expectations. 5. Featured Ecommerce Companies and Tools The ultimate goal of ecommerce merchandising is not just to sell products, but to build lasting relationships with customers, fostering a sense of loyalty and trust that propels brands to new heights. Here are ten ecommerce solution providers that empower digital merchandising with their signature capabilities. 5.1Bloomreach Bloomreach is pioneering the art of digital experiences with a vision that transcends mere convenience. The company is dedicated to delivering experiences that are not just incredible but also unforgettable, transforming everyday digital interactions into something extraordinary. Key attributes Business Empowerment: Enabling companies to create compelling digital narratives. Visionary Outlook: Setting new standards in the digital experience landscape. Enriched Global Presence: Influencing lives and businesses worldwide. Digital Craftsmanship: Fusing simplicity with spellbinding experiences. Growth Catalyst: Transformative experiences as a driver for business growth. 5.21WorldSync 1WorldSync champions product content orchestration, simplifying content creation and distribution to power ecommerce and digital retail with accurate, consistent information. As a leading commerce network, 1WorldSync boasts an impressive influence, powering 87% of the world’s top brands and retailers. Key attributes Content Orchestration Leader: Focused on high-quality, relevant content. Market Influence: Serving top brands and retailers globally. Business Performance: Demonstrated impact on efficiency and conversions. Innovative Ownership: Supported by Battery Ventures for continued excellence. Comprehensive Information Access: Local and global product information reach. 5.3Algolia Algolia defines the epitome of search and discovery in the digital realm, harnessing AI to instantly connect users with what they seek. According to a Forrester Consulting study, customers gain a 382% return on investment with less than a six-month payback period when deploying the Algolia Search and Discovery platform. Key attributes End-to-End AI Platform: Combining NLP and vector search on a unified API. Scalable Search Experiences: Servicing billions of queries for global brands. Unmatched Performance: Delivering over 100,000 search interactions per second. ROI Champion: Proven financial return for customers utilizing its platform. Global Growth: Expanding from Parisian roots to a commanding presence in San Francisco. 5.4Bluecore Bluecore is transforming retail marketing through data intelligence, making personalized, cross-channel communication not just possible but efficient and compelling. The platform's automation capabilities are transformative, precisely targeting the "who, what, when, and where" for each individual shopper, ensuring that every message is highly relevant and timely. Key attributes Data-Driven Marketing: Seamlessly integrating data into campaign workflows. Automated Precision: Tailoring communication for individual shopper profiles. Trusted by Major Brands: Endorsed by over 400 leading global retailers. Revenue Growth: Focused on driving customer retention and predictable growth. Cutting-Edge Solutions: A dynamic platform for evolving retail marketing needs. 5.5Bridgeline Bridgeline excels in amplifying online presence for businesses, offering a suite of tools that elevate traffic, conversions, and ultimately, revenue. One of their prominent products is Hawksearch, which provides a suite of digital experience solutions. These include feature-rich ecommerce and content management capabilities, turn-key site search and merchandising, SEO optimization tools, and more. Key attributes AI-Powered Insights: Advanced site search tools for customer satisfaction. Robust Revenue Tools: Focusing on site search, merchandising, and SEO. Hawksearch Advantage: Comprehensive digital experience solutions. Strategic Partnerships: A vast network of partners enhancing digital strategies. Innovative Technology: Utilizing AI for smart recommendations and sales. 5.6RichRelevance RichRelevance, now Algonomy, personalizes digital experiences, propelling growth and brand devotion for some of the most celebrated retailers worldwide. Algonomy's technologies are adept at bridging the gap between marketing and commerce, a crucial aspect for digital marketing leaders. Key attributes AI-Powered Personalization: Bridging marketing with commerce effectively. Life-Cycle Spanning Experiences: Offering real-time, scalable solutions. Global Expertise: A San Francisco-headquartered company with a worldwide reach. Industry Leader: Trusted by iconic B2C and B2B brands and retailers. Customer-Centric: Crafting experiences that resonate on a personal level. 5.7Shopware Shopware has cemented its role in digital commerce, providing an omnichannel platform designed for flexibility across various business models. Shopware's global network of 1,600 sales, technology, and solution partners contributes to a stable and supportive ecosystem. Key attributes German Ingenuity: Established in Germany with a growing North American presence. Customizable Architecture: Headless, API-first, and open-source for unique experiences. Extensive Partner Network: Supportive ecosystem with over 1,600 partners. Impactful GMV: Processing over 20 billion USD in Gross Merchandise Value. Comprehensive Solutions: Aiding mid-market to enterprise-level merchants. 5.8Coveo Coveo leads the charge in powering digital experiences, utilizing AI to craft interactions that are both intuitive and transformative for global brands. For enterprises to achieve the AI-experience advantage at scale, Coveo believes that it is imperative to deliver semantic search and generative experiences at each customer and employee interaction. Key attributes Experience Powerhouse: Millions served with billions of interactions. AI-Experience Advantage: Mastering the business-to-person dynamic. Enterprise Backbone: Delivering semantic search and generative experiences. Visionary AI Integration: Anticipating the needs of customers and employees. Competitive Edge: Experience as the front line for every business's success. 5.9EDITED EDITED is at the cutting edge of retail analysis, providing automated solutions that empower retailers to thrive through data-driven strategy optimization. Its platform is particularly valuable in the fast-paced retail environment, where understanding market trends, competitor moves, and consumer preferences is crucial for staying ahead. Key attributes Retail Intelligence Pioneer: Merging business analytics with market data. Data-Driven Decisions: Turning insights into profitable retail strategies. Agile Market Response: Keeping pace with fast-moving retail dynamics. Actionable Insights: Empowering retail professionals to grow profits. Competitor Analysis Expertise: Navigating trends and consumer preferences. 5.10Akeneo Akeneo offers a robust PIM solution, orchestrating product information to enrich and expedite the journey from product management to market. The Akeneo Product Cloud is a significant offering from Akeneo, a SaaS-based solution that orchestrates, activates, and optimizes product experiences across various channels such as e-commerce, mobile, social commerce, and more. Key attributes PIM Excellence: Streamlining and enhancing product information management. Product Cloud: Orchestrating experiences across diverse sales channels. Collaborative Tools: Enabling teamwork for faster product readiness. Tailored Solutions: Catering to various industries with specific needs. SaaS-Based: Offering scalable and flexible product information management. 6. Summation: A Nod to Ecommerce Merchandising's Critical Impact With a significant portion of consumers conducting online research for major purchases and engaging in spontaneous 'micro-moments' of shopping, the need for an optimized online retail environment has never been more critical. As the competition is fierce and the expectations of potential customers are rapidly evolving, the significance of refined ecommerce merchandising strategies cannot be overstated. A well-orchestrated approach to online merchandising, leveraging high-quality product photography, significantly enhances the visibility and attractiveness of all offerings to the online shopper. Harnessing customer data effectively allows for a personalized shopping experience, fostering a stronger connection between a brand and its audience. Moreover, integrating social media into the ecommerce strategy amplifies a brand’s reach and opens up new avenues for engagement and customer acquisition. The desire for virtual try-on experiences is a testimony of ecommerce evolution and highlights the growing demand for interactive and personalized ecommerce experiences. As such, ecommerce merchandising has cemented itself as a cornerstone of online retail, essential for attracting attention, driving sales, and delivering personalized shopping experiences that resonate with the modern consumer's expectations. However, amid escalating competition and narrow conversion windows, the necessity for instantaneous inventory and merchandising refinement is paramount, yet unattainable without automation. This implies merchandising managers must embrace ecommerce merchandising task automation for critical operations. Also, through searchandising, owners of ecommerce stores can leverage the ability to spotlight particular items, including those with high margins, top sellers, or those relevant to the current season. By focusing on these dynamic aspects, along with strategic visual merchandising, businesses can secure their position in the competitive online marketplace.

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POS Solutions

Optimizing Digital Marketplace with Unified Retail Management

Article | April 4, 2024

Savvy retailers partner with leading marketplace software providers to dominate the digital marketplace with unified retail. Read the article to unlock the ingredients of successful retailing. Contents 1. Unified Retail Management: The Inducer of Selling Prowess 2. Multichannel Versus Unified Commerce in Retail 3. Unlocking Operational and POS Success with Unified Retailing 4. Top Companies Dealing in Unified Retailing Software 4.1 Tackle.io 4.2 Anchanto 4.3 Logicbroker 4.4 JungleWorks 4.5 Appscrip 4.6 NuORDER 4.7 CS-Cart 4.8 AppDirect 4.9 Convictional 4.10 Mirakl 5. Summing Up 1. Unified Retail Management: The Inducer of Selling Prowess Unified retail management is a distinct approach to retailing that involves managing diverse retail operations, from inventory management to checkouts, through a single, integrated system. By ensuring personalized shopping experiences, offering impressive integration with POS systems and checkout options, and simplifying digital marketplace processes, the unified approach benefits B2B businesses in many ways, transforming them into true selling prowess. Over 66% of all software spending in retail is now focused on the concept of unified commerce. [Source: Research and Markets] With the apparent shift toward unified retail management, businesses adopting this approach today hold a competitive edge in the market. A single, integrated system comprising marketplace optimization tools helps them streamline operations, enhance productivity, reduce manual work, and gain greater visibility into their activities. 2. Multichannel Versus Unified Commerce in Retail Representing different strategies in the retail sector, both multichannel and unified retail management approaches aim to offer customers an exceptional shopping experience, enhancing loyalty and satisfaction. While multichannel retail management involves maintaining and managing diverse sales channels, a unified approach combines them to ensure a uniform customer experience across all touchpoints. A prominent distinction between the two is their respective points of focus. Notably, the unified approach focuses on rendering consistent customer experiences, while the multichannel approach aims to ensure a harmonious appearance of the brand. Yet, unlike the complex infrastructure that the multichannel platform entails, a unified retail management software consolidates all retail operations on a single platform, overcoming operational inefficiencies and data inconsistencies that can emerge in the former approach. The simplicity of the unified software further ushers in the desired agility in operations and decision-making prowess. Significantly, with features like consolidated platforms and real-time data synchronization, which are hard to find in a multichannel platform, unified commerce software limits the chances of discrepancies and errors, elevating business growth and profits. 3. Unlocking Operational and POS Success with Unified Retailing As customer expectations shift and the retail environment matures, businesses worldwide are increasingly implementing unified retail management for enhanced POS strategies and peak financial gains. This transition ensures that separate channels don’t usher in frustrations with inconsistencies in customer experiences. Importantly, with online marketplace optimization tools for unified retailing, B2B businesses further stand to bridge potential gaps, unlocking operational and POS excellence, marked by: ● High Operational Efficiency Unified retail management systems streamline various retail operations, including merchandising, marketing, and customer relations, combining different aspects of retailing to reduce manual work and increase overall operational efficiency. It further improves inventory management and ensures that overstock situations at POS are averted. ● Process Simplification for Better Customer Experiences Whether it is simplifying crucial processes such as easy returns or ensuring seamless transactions via faster checkout and payment options, unified retail management builds trust and loyalty among customers by rendering them hassle-free experiences across all digital marketplaces and touchpoints. ● Integrated POS and Effortless Checkouts In a unified approach, efficient transaction processing is made possible by effortlessly integrating the POS system with inventory management. This allows real-time updates of inventory levels and integrated reporting for better decision-making. It also lets businesses add effective self-checkout options, encouraging higher purchases and seamless checkout experiences. ● Better Insights and Visibility With unified retail management systems, retailers gain greater visibility into their operations, as data and analytics are centralized. This centralization enables them to optimize POS strategies and view real-time information on variables like sales performance, customer behaviors, and stock levels. ● Personalized Selling Unified retail management systems easily consolidate customer data from different sources into a single, centralized database, allowing for personalized selling. They also enable B2B businesses to implement dynamic pricing, offer tailored recommendations at POS, and carry out targeted promotions based on such data, cultivating stronger customer relationships and overcoming inconsistencies. Companies that grow faster drive 40 percent more of their revenue from personalization than their slow-growing counterparts. [Source: McKinsey] ● Cost Saving Despite the initial investment, a transition to unified retailing promises marketplace optimization tools, which increase cost efficiency, curtail manual errors, and reduce the costs associated with handling separate channels and systems. ● E-commerce Integration Unified retail management software easily integrates with e-commerce platforms. It allows retailers to manage online storefronts, align data across different channels, and process online orders, ensuring smooth functioning and optimum profits. ● Omnichannel Capabilities With a unified approach, retailers could further organize omnichannel marketing campaigns, providing consistent offers, pricing, and messages across multiple touchpoints. This would also ensure customers get personalized recommendations at POS and promotions, regardless of their chosen channel. ● A True Competitive Advantage From enhanced flexibility and customer experience to robust security and supply chain resilience, the unified approach renders a true competitive advantage to retailers, enabling them to become industry leaders and grow their customer base effectively. 4. Top Companies Dealing in Unified Retailing Software With business optimization at the core, leading marketplace software providers are empowering businesses to attain success with the unified retailing approach. Here’s a list of the top companies that are rendering forward-looking unified retail solutions to businesses: 4.1 Tackle.io Founded by industry veterans, Tackle.io is a unified retail software provider that aims to simplify B2B software retail processes. Considering the present-day cloud era, Tackle.io offers an impressive platform to businesses, rendering them high earnings potential from cloud marketplaces and allowing them to launch products quickly without wide-ranging engineering resources. Offering a comprehensive Cloud GTM platform, Tackle.io aims to support various aspects of cloud-generated revenue for enterprise-level businesses, including co-selling and marketplace integration. It employs a data-driven approach to enhance customer satisfaction and increase profits. Significantly, its easy integration with hyperscale cloud ecosystems simplifies partner collaborations and automates co-selling workflows. 4.2 Anchanto Facilitating online sales and shipping for retailers, brands, and logistics companies, Anchanto is a notable unified retail management software provider headquartered in Singapore. The company offers a comprehensive technology stack to businesses and streamlines their retail operations through solid integration capabilities, data analytics, post-purchase services, etc., enabling them to achieve operational excellence. The company boasts advanced SaaS technology to offer retailers scalability, cost-effectiveness, and regular updates. Furthermore, with impressive integration with more than 150 POS systems, global marketplaces, ERPs, and web stores, Anchanto allows for real-time data access and enhanced decision-making. Correspondingly, it renders customized solutions to 3PL businesses and eliminates customers’ WISMO queries, ensuring high customer loyalty. 4.3 Logicbrocker Logicbroker is a leading multi-vendor commerce solution provider that links trading partners seamlessly, regardless of their integration methods. Offering a wide range of products, the company helps retailers enhance their brand presence by fostering connections and managing operations. Predominantly, the solution provider serves mid-market and enterprise manufacturers and retailers in different industries, including consumer electronics, health and wellness, home improvement, etc. The company’s distinct product onboarding center cuts down manual tasks, while its dropshipping solution helps retailers widen their product range without requiring additional warehousing space. Furthermore, with tools for more straightforward payment processing, split payments, dispute resolution, visibility, and control, the solution provider supports business development, ensuring security and regulatory compliance, including CCPA, SOC, and GDPR standards. 4.4 JungleWorks JungleWorks is a notable unified retailing software provider that renders no-code solutions to businesses wishing to manage hyperlocal operations like on-demand delivery or home services. It offers various solutions for faultless on-demand operations of companies of all sizes, from establishing online marketplaces to facilitating transactions and managing logistics. The company aims to help on-demand service providers foster enhanced customer engagement through personalized marketing campaigns and omnichannel capabilities. It streamlines fleet operations, ensuring robust vehicle tracking and monitoring of real-time driver activities. It also provides headless e-commerce solutions, enabling businesses to leverage limitless API-driven integrations and customization options. 4.5 Appscrip Powering mobile-first business models, Appscrip is a technology solution provider that caters to diverse businesses such as social, on-demand, shopping, messaging, discovery, etc., facilitating their technology management and modernizing their businesses through augmented reality, IoT, and telematics. With scalable, aesthetically appealing mobile apps, the solution provider is helping retailers expand their businesses by focusing on their products and ensuring high customer satisfaction. Correspondingly, the comprehensive solution provider offers end-to-end IT and development services to retailers, helping businesses through the whole product development cycle, from ideation to implementation. Furthermore, with its specialization in mobile-first models, dedicated POD teams, and impressive tech stack, it prioritizes user experiences, enabling businesses to launch their products rapidly, scale their businesses, and ensure high customer engagement through an intuitive interface. 4.6 NuORDER Lightspeed, a leading B2B platform provider, offers the NuORDER solution to businesses, which carries the right ingredients for retailing success. The comprehensive NuORDER software promises users compelling features like integrated payment solutions and virtual showrooms, simplifying wholesale transactions for brands and retailers worldwide. Acquired by Lightspeed in 2021, the software further facilitates automated workflows and data-driven decisions for B2B selling with integrations with over 120 POS systems, ERP, and PLM. Moreover, through its impressive attributes, NuORDER streamlines retail operations, allowing retailers to optimize inventory allocation, view unified catalogs, and work with teams across diverse brands and stores. The company’s strong suit lies in its ability to facilitate data-driven decision-making, allowing error reduction, enhanced control, and better business outcomes. With the platform’s easy compatibility with chain stores, department stores, and online retailers, NuORDER renders solutions for diverse retail environments, increasing order efficiency and fine-tuning range plans across all stores and departments. 4.7 CS-Cart CS-Cart is a leading e-commerce software that provides businesses with a self-hosted multivendor solution. Its open-source architecture allows retailers to customize and scale their e-commerce websites and caters to SMEs and enterprises. The solution has distinct features like payment dependencies and vendor-to-admin payments, which renders an excellent POS experience. Furthermore, the company offers tools for automating tasks, handling marketplace workflows, optimizing order processing and product management, and simplifying seller onboarding, which boost sales and augment retail operations. The company also provides easy integration with over 70 payment gateways and diverse payment options, implements comprehensive security measures, and ensures compliance with industry standards like GDPR and PCI DSS. 4.8 AppDirect Headquartered in San Francisco, AppDirect is a cutting-edge B2B subscription commerce platform provider that connects technology advisors, businesses, and providers to simplify retail processes associated with technology solutions. Correspondingly, the company aims to help enterprises collaborate successfully and gain high efficiency in the B2B technology sector. Notably, AppDirect's software offers multiple features to retailers, including a custom cloud marketplace, advanced merchandising tools, fast checkouts with diverse payment options, industry-specific solutions, and a catalog of over 300 pre-integrated SaaS and IaaS providers, which ensure tailored online marketplaces for businesses for enhanced customer experience and strong brand presence. 4.9 Convictional Recognized as a leading modern dropship platform provider, Convictional helps established retailers launch new dropship, cross-selling, and marketplace programs. With advanced tools for marketplace dominance, robust vendor management, and integration capabilities, it allows retailers to onboard and dropship with various brands, ensuring quicker assortment growth, limited onboarding time, and increased online sales. Convictional further allows retailers to expand their product range quickly without manual efforts and ensure smart decisions through data-driven insights. The company’s software boasts impressive collaboration tools, encouraging transparency and establishing a win-win situation for retailers and suppliers. Its impressive attributes also include automated payouts with flexible payment options, making for smooth invoicing and greater customer convenience. 4.10 Mirakl Founded in 2012, Mirakl is a leading technology partner promising digital growth to businesses worldwide through its innovative features. The company offers unmatched expertise and assistance to retailers through its comprehensive solutions for all operations, from implementation to development. With the ability to manage millions of API calls, SKUs, and stock updates, Mirakl promises retailers seamless digital business advancements and optimum profits. The company further boasts an impressive retail media experience, enabling businesses to monetize their platforms through targeted advertising. From launching platform businesses to maximizing product ranges, Mirakl effectively empowers enterprises to enhance their digital presence through impressive marketplace and dropship solutions. It also renders tailored solutions to industry-specific retailers, including fashion, grocery, health and beauty, and so on. 5. Summing Up Unified retail management promises B2B businesses the ability to outperform competitors in the market, serving as a driving force behind enhanced selling competencies. From ensuring excellent customer experiences to streamlining operations and enabling data-driven decision-making, the marketplace software platform for unified retail empowers businesses by increasing their efficiencies, reducing costs, and helping them meet their business goals. Importantly, with the retail sector quickly transforming, companies investing in unified retail management software firmly set themselves up for sustained growth and business excellence in the digital marketplace.

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Restaurant POS

How POS Solutions Assist Restaurants to Increase their ROI?

Article | December 1, 2022

Introduction The hospitality industry has always been challenging and full of obstacles, such as low-profit margins, high competition, and turnover management, irrespective of the type of restaurant or level of owner experience. However, rapidly changing business dynamics and current conditions have increased these challenges enormously. Changing customer preferences, including high customer service expectations and an emphasis on the sourcing of ingredients and nutrition values, affect the entire operation. Also, the growing importance of reviews and word-of-mouth referrals makes brand management both more crucial and complex. Thus, several restaurant owners are increasingly investing in innovative solutions, such as restaurant POS systems, to improve the consumer experience, empower business owners to manage restaurant operations more efficiently, and increase ROI. Top 5 Ways How Restaurant POS Integration Can Boost ROI Due to the fast-paced nature of the restaurant sector, coupled with ever-changing customer needs, business owners encounter numerous challenges in keeping up with the changes and meeting customer expectations while maintaining perfect control over all aspects of their operations. As restaurant POS systems provide solutions for these challenges while also improving workplace efficiency, automating several tasks, monitoring employee performance, and enhancing security, these systems are gaining massive popularity in the hospitality industry. Out of all the new features that restaurants can get from POS integrations, such as delivery management, accounting, and more, these are the most important ones that help owners get the best return on their investment: Create Data-driven Campaigns Modern POS solutions enable restaurant owners to collect valuable data about their customers, such as their preferred food choices, their addresses, how often they visit the establishment, and others. These actionable insights can be used to create personalized campaigns, increasing their chances of responding to a customized offer and improving ROI. Support Omnichannel Communications and Payments With the advent of e-commerce, food can now be ordered and paid for via multiple channels, including the restaurant's website, third-party applications, the phone, and others. Therefore, it has become essential for restaurant owners to increase contact with their customers. Integrating a restaurant POS system enables owners to facilitate omnichannel communication and payments and discover the optimal way to communicate with consumers, thereby increasing food order flow from both offline and online channels. Improves Customer Relationship As the restaurant sector continues to become more competitive year by year, it is becoming crucial for restaurant owners to improve their relationships with customers. With restaurant POS systems, customers can make the payment using their preferred methods, such as cash, credit or debit card, QR code, UPI, and others. These systems also reduce the time for placing food orders as well as decline the chances of order misplacement. This results in providing better customer service, improving customer relationships, and increasing customer inflow. Streamline Restaurant Operations From front-of-house to back-of-house operations, modern POS technology assists restaurant owners in streamlining various business operations such as inventory control, labor management, payment getaways, and order tracking and delivery, among others. Thereby reducing the overall cost, declining the chances of errors, and improving profit margins. Final Thought Today, POS technology is clearly a necessity for the hospitality industry, irrespective of the type of establishment, such as fine dining, fast food, cloud kitchen, hotels, and others, to enhance restaurant operations, provide a smoother customer experience, and improve ROI. With the introduction of customizable POS solutions and a growing shift towards cashless payments, modern restaurant POS systems are anticipated to transform the ways of food ordering and payment in the forthcoming years.

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Canadian Customer Service Association

In addition to promoting and gaining acceptance of the Customer Service field for the distinct body of knowledge it provides in business, it is the first association to promote the practice of Customer Experience Management as a recognized professional discipline and is the professional voice of customer service practitioners in Canada.

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Leading Wireless Retail Platform Provider Real Time Technologies Continues Growth and Expansion With Acquisition of Your Ware Software

Real Time Technologies (RT²) | January 24, 2024

Real Time Technologies, Inc (RT²), the largest enterprise front-end software platform serving Fortune 500 companies in the U.S. wireless industry, announced today its acquisition of Your Ware Software, a provider of customized business intelligence, sales, and compensation reporting for the wireless retail postpaid channel. Trusted by tier-one telecom carriers to provide retail activation, point-of-sale (POS), payments, business intelligence, and inventory management solutions, RT²'s acquisition of Your Ware Software adds key capabilities to its burgeoning retail wireless store solutions, enabling further expansion into postpaid channels for customers. The purchase is expected to add access to another 4,000 postpaid locations for RT²'s industry-leading wireless retail platform, setting the company up for another banner year in 2024. "The acquisition of Your Ware significantly expands RT²'s presence in the postpaid retail environment and adds to our long-standing success as the leading enterprise POS and Payments provider in prepaid wireless channels," said Omar Azrag, CEO of RT². "The Your Ware team has similar DNA to RT² and brings a world-class level of service specializing in building and deploying customized solutions for the postpaid channel. We are thrilled to have them part of the RT2 family," says Ali Koumaiha, Founder & CPO of RT². "For 22 years, Your Ware Software has designed POS, inventory management, and commission-tracking software for authorized retailers representing tier-one U.S. telecom carriers. Our team of world-class developers and engineers are excited to join the RT² family and continue to serve our customers with the industry-leading products and services they've come to expect. This deal is a triumph for our employees and our customers," says Chris Jones, CEO of Your Ware Software. Neither party disclosed the terms of the deal at this time, and it will remain confidential. In August of 2022, RT² acquired IAS, formerly Qpay from InComm Payments, specializing in customizable payment and technology solutions and the payment processor of choice for retailers, master agents and wireless carriers. RT² has since transformed and simplified the payment offering with an industry-first service model, much to the delight of their long-term customers. About Real Time Technologies (RT²) RT² offers the most flexible cutting-edge Retail Management Solutions that encompass POS, inventory management, payment services, frontline employee management & engagement, business intelligence, and digital automation tools for the wireless industry. RT² support Fortune 500 companies unify their customer experience and remove pain points across multiple retail touch points. Now serving over 14,000 retail locations across the US, Territories, and Canada. RT² prides itself on fostering a family culture and a dynamic work environment where team members are set up to make meaningful contributions across the organization. Learn more at www.rt2.com.

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XY Retail Introduces Cutting-Edge Order Management System for Luxury Retailers

XY Retail | January 08, 2024

XY Retail, a leader in innovative retail solutions, today announces the launch of its latest product, an advanced Order Management System (OMS) that comes fully pre-integrated with the XY Point of Sale (POS) and Clienteling solutions. In response to evolving retailer needs, XY Retail has engineered a comprehensive OMS that not only streamlines order processing but also works seamlessly with the existing XY POS and Clienteling systems. This integrated approach marks a significant leap forward in providing retailers with a unified platform to enhance operational efficiency, customer engagement, and overall business performance. The XY Retail OMS offers: End-to-End Integration: The XY OMS is intricately woven into the fabric of the XY POS and Clienteling systems, fostering a holistic retail ecosystem. This end-to-end integration ensures a fluid and synchronized customer experience across all touchpoints. Effortless Order Processing: With a user-friendly interface, the OMS simplifies and accelerates order management, from initiation to fulfillment. Retailers can now seamlessly track and fulfill customer orders with precision. Real-Time Inventory Visibility: Leveraging the synergy with the XY POS, the OMS provides real-time visibility into inventory levels. This empowers retailers to optimize stock, minimize overstock or stockouts, and enhance overall inventory management. Clienteling Enhancement: The integrated OMS elevates the clienteling experience by consolidating customer information from POS transactions and order history. Sales associates can access a comprehensive view of customer interactions, preferences, and purchase history, enabling personalized and targeted engagement. Data-Driven Decision Making: Harnessing the power of interconnected systems, the XY Retail OMS enables data-driven decision-making. Retailers can gain valuable insights into customer behavior, inventory trends, and sales performance, facilitating strategic planning and business growth. "We're excited to introduce our integrated Order Management System, marking a significant step in advancing retail operations,” said Susan Jeffers, CEO of XY Retail. “By seamlessly merging order management with our POS and Clienteling systems, we provide retailers with a powerful tool to navigate the complexities of modern commerce efficiently and strategically. This integration underscores our commitment to delivering innovative solutions, enhancing operational efficiency, and empowering our clients to stay ahead in a dynamic industry." About XY Retail XY Retail is a trailblazer in the world of unified commerce solutions, revolutionizing the retail landscape with cutting-edge technology and innovation. Our microservices based, API-first, cloud-native platform seamlessly and vertically integrates mobile point of sale, order management, clienteling, and omnichannel capabilities, empowering global brands to deliver unparalleled customer experiences. With a commitment to excellence and a vision for the future of retail, XY Retail is at the forefront of shaping the next generation of innovative and dynamic commerce.

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GK Announces GK Engage, a Highly Personalized Loyalty Solution for Any Retail Touch Point Including Mobile Devices and Point-of-Sale

Business Wire | September 28, 2023

GK today announced its latest solution, GK Engage, a modern, comprehensive and AI-powered loyalty program for every omnichannel retail touch point. This solution empowers retailers to create highly contextualized and personalized outreach including messaging, discounts and rewards that improve customer lifetime value and enrich a retailer’s competitive differentiation. GK Engage was announced at GK’s first-ever Retail Innovation Summit for the Americas, which is taking place Sept. 25-26 in Raleigh, North Carolina. Attendees can view GK Engage, alongside other GK solutions, at the newly unveiled GK Customer Experience Center. GK is a world leader in point-of-sale (POS) technology and, as a result, its product team has talked with retailers who wanted more out of their loyalty systems. To fill this gap, GK developed GK Engage, a modern take on loyalty. The solution draws inspiration from two successful GK solutions, MCA, GK’s mobile loyalty program, and T+ Loyalty. These predecessor technologies have serviced more than one billion transactions per year for over six million registered users. Now, GK Engage customers will reap these benefits at scale using one comprehensive platform that works across a diverse range of online and in-store retail touch points. GK Engage provides retailers with real-time, AI-driven, personalized loyalty offers that surprise and delight customers. The complete solution creates loyalty tiers that automatically track all customer interactions and generate relevant campaigns to safeguard long-term retailer relationships and customer lifetime value. GK Engage can be integrated with merchandise master data and customer data to ensure all recommendations, promotions, coupons and more are beneficial to the individual customer, as well as the retailer’s current inventory availability and financial goals. What’s more, GK Engage is already integrated into GK’s OmniPOS solution across all touch points including traditional POS, self-checkout kiosks, mobile, and frictionless store technology like GK GO. “GK Engage was created for any retailer, regardless of where they are in their loyalty journey,” said Michael Jaszczyk, chief digital transformation officer, GK and CEO, GK Americas. “The solution is extremely flexible. For some retailers, GK Engage will serve as a complete solution, while others may integrate the solution into a CRM or an existing customer offer system. I look forward to presenting GK Engage alongside our other innovative solutions at the now unveiled GK Customer Experience Center.” Today and tomorrow, GK customers and partners from across the U.S., Latin America and Canada are gathering at GK’s US headquarters in Raleigh, North Carolina to take part in the 2023 GK Retail Innovation Summit. In addition to hearing from renowned retail experts like Greg Buzek, founder and president, IHL Group, attendees can visit GK’s new Customer Experience Center. The center showcases GK technology and allows viewers to envision a modern, efficient and exceptional shopper experience across various key touch points including the point-of-sale, the fuel pump and the e-commerce site. At the Customer Experience Center, prospective retail customers can hear from solution experts who will help them to design the best solution deployment for their end-customers. The technology featured in the center includes GK Engage, GK OmniPOS, self check-out, GK Drive, GK GO, GK AIR (artificial intelligence for retail) and fraud prevention solutions from Fujitsu, which invested in GK as a strategic investor earlier this year. About GK GK breaks down the barriers to unified commerce with its open CLOUD4RETAIL platform and a broad portfolio based on it, like OmniPOS for point of sale, mobile POS, mobile customer engagement and a full range of store/back-office solutions. The company is a recognized leader in omnichannel retail, offering a single, global software platform for all retail formats and touch points. Ten of the Top 50 retailers worldwide rely on GK, and GK is the fastest growing global POS provider in new installations over the last three years. For more information, visit www.gk-software.com.

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Leading Wireless Retail Platform Provider Real Time Technologies Continues Growth and Expansion With Acquisition of Your Ware Software

Real Time Technologies (RT²) | January 24, 2024

Real Time Technologies, Inc (RT²), the largest enterprise front-end software platform serving Fortune 500 companies in the U.S. wireless industry, announced today its acquisition of Your Ware Software, a provider of customized business intelligence, sales, and compensation reporting for the wireless retail postpaid channel. Trusted by tier-one telecom carriers to provide retail activation, point-of-sale (POS), payments, business intelligence, and inventory management solutions, RT²'s acquisition of Your Ware Software adds key capabilities to its burgeoning retail wireless store solutions, enabling further expansion into postpaid channels for customers. The purchase is expected to add access to another 4,000 postpaid locations for RT²'s industry-leading wireless retail platform, setting the company up for another banner year in 2024. "The acquisition of Your Ware significantly expands RT²'s presence in the postpaid retail environment and adds to our long-standing success as the leading enterprise POS and Payments provider in prepaid wireless channels," said Omar Azrag, CEO of RT². "The Your Ware team has similar DNA to RT² and brings a world-class level of service specializing in building and deploying customized solutions for the postpaid channel. We are thrilled to have them part of the RT2 family," says Ali Koumaiha, Founder & CPO of RT². "For 22 years, Your Ware Software has designed POS, inventory management, and commission-tracking software for authorized retailers representing tier-one U.S. telecom carriers. Our team of world-class developers and engineers are excited to join the RT² family and continue to serve our customers with the industry-leading products and services they've come to expect. This deal is a triumph for our employees and our customers," says Chris Jones, CEO of Your Ware Software. Neither party disclosed the terms of the deal at this time, and it will remain confidential. In August of 2022, RT² acquired IAS, formerly Qpay from InComm Payments, specializing in customizable payment and technology solutions and the payment processor of choice for retailers, master agents and wireless carriers. RT² has since transformed and simplified the payment offering with an industry-first service model, much to the delight of their long-term customers. About Real Time Technologies (RT²) RT² offers the most flexible cutting-edge Retail Management Solutions that encompass POS, inventory management, payment services, frontline employee management & engagement, business intelligence, and digital automation tools for the wireless industry. RT² support Fortune 500 companies unify their customer experience and remove pain points across multiple retail touch points. Now serving over 14,000 retail locations across the US, Territories, and Canada. RT² prides itself on fostering a family culture and a dynamic work environment where team members are set up to make meaningful contributions across the organization. Learn more at www.rt2.com.

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XY Retail | January 08, 2024

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POS Retail

GK Announces GK Engage, a Highly Personalized Loyalty Solution for Any Retail Touch Point Including Mobile Devices and Point-of-Sale

Business Wire | September 28, 2023

GK today announced its latest solution, GK Engage, a modern, comprehensive and AI-powered loyalty program for every omnichannel retail touch point. This solution empowers retailers to create highly contextualized and personalized outreach including messaging, discounts and rewards that improve customer lifetime value and enrich a retailer’s competitive differentiation. GK Engage was announced at GK’s first-ever Retail Innovation Summit for the Americas, which is taking place Sept. 25-26 in Raleigh, North Carolina. Attendees can view GK Engage, alongside other GK solutions, at the newly unveiled GK Customer Experience Center. GK is a world leader in point-of-sale (POS) technology and, as a result, its product team has talked with retailers who wanted more out of their loyalty systems. To fill this gap, GK developed GK Engage, a modern take on loyalty. The solution draws inspiration from two successful GK solutions, MCA, GK’s mobile loyalty program, and T+ Loyalty. These predecessor technologies have serviced more than one billion transactions per year for over six million registered users. Now, GK Engage customers will reap these benefits at scale using one comprehensive platform that works across a diverse range of online and in-store retail touch points. GK Engage provides retailers with real-time, AI-driven, personalized loyalty offers that surprise and delight customers. The complete solution creates loyalty tiers that automatically track all customer interactions and generate relevant campaigns to safeguard long-term retailer relationships and customer lifetime value. GK Engage can be integrated with merchandise master data and customer data to ensure all recommendations, promotions, coupons and more are beneficial to the individual customer, as well as the retailer’s current inventory availability and financial goals. What’s more, GK Engage is already integrated into GK’s OmniPOS solution across all touch points including traditional POS, self-checkout kiosks, mobile, and frictionless store technology like GK GO. “GK Engage was created for any retailer, regardless of where they are in their loyalty journey,” said Michael Jaszczyk, chief digital transformation officer, GK and CEO, GK Americas. “The solution is extremely flexible. For some retailers, GK Engage will serve as a complete solution, while others may integrate the solution into a CRM or an existing customer offer system. I look forward to presenting GK Engage alongside our other innovative solutions at the now unveiled GK Customer Experience Center.” Today and tomorrow, GK customers and partners from across the U.S., Latin America and Canada are gathering at GK’s US headquarters in Raleigh, North Carolina to take part in the 2023 GK Retail Innovation Summit. In addition to hearing from renowned retail experts like Greg Buzek, founder and president, IHL Group, attendees can visit GK’s new Customer Experience Center. The center showcases GK technology and allows viewers to envision a modern, efficient and exceptional shopper experience across various key touch points including the point-of-sale, the fuel pump and the e-commerce site. At the Customer Experience Center, prospective retail customers can hear from solution experts who will help them to design the best solution deployment for their end-customers. The technology featured in the center includes GK Engage, GK OmniPOS, self check-out, GK Drive, GK GO, GK AIR (artificial intelligence for retail) and fraud prevention solutions from Fujitsu, which invested in GK as a strategic investor earlier this year. About GK GK breaks down the barriers to unified commerce with its open CLOUD4RETAIL platform and a broad portfolio based on it, like OmniPOS for point of sale, mobile POS, mobile customer engagement and a full range of store/back-office solutions. The company is a recognized leader in omnichannel retail, offering a single, global software platform for all retail formats and touch points. Ten of the Top 50 retailers worldwide rely on GK, and GK is the fastest growing global POS provider in new installations over the last three years. For more information, visit www.gk-software.com.

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